Engaging Title: “Avalanche (AVAX) Plunges 10% in 24 Hours: What’s Next for This Top Crypto?”

Jun 22, 2024

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Avalanche (AVAX) Sees a 10% Price Drop in 24 Hours


Avalanche (AVAX) has experienced a significant 10% price drop in the past 24 hours, hitting $24.86, its lowest point this year. The decline is attributed to a large transfer of 1.96 million AVAX tokens worth $54.2 million across exchanges like Coinbase and Binance.


Avalanche (AVAX), a prominent large-cap cryptocurrency, has witnessed a notable decrease in value, making it the top loser among major digital assets. The price of AVAX plummeted from $27.90 to $24.86, showing a substantial 60% decline from its yearly peak of $60.69.

Main Points

  • The entity transferred 1.96 million AVAX tokens worth $54.2 million, impacting the price of AVAX.
  • The sudden 10% drop in AVAX’s price is attributed to significant selloffs and transactions on various exchanges.
  • Despite the price drop, AVAX’s trading volume has surged by over 100%, reaching $509 million.
  • Potential price scenarios include a further drop to $20 or a recovery towards $28 and beyond.


As Avalanche (AVAX) faces price uncertainties, traders are closely monitoring the critical support level of $23. The market’s response to the recent selloff has led to increased trading activity, suggesting a dynamic environment for AVAX’s price movements in the near future.


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